HOME > Economy

Bank Islami restores payment services, including online transfers

November 26 , 2018

Photo: AFP

Bank Islami has restored its payment services, including online funds transfers, said a press release issued on Monday. 

“All of the bank’s services can now be accessed and operated as usual, including other banks’ ATMs, internet banking and mobile app,” the bank said. However, the bank said its Point of Sales services (debit card purchases at a retail outlet for example) will be restored soon.

Bank Islami had suspended these services after hackers siphoned off Rs2.6 million from its customers’ accounts in a security breach on October 27. It was a coordinated cyber-attack in which the payment network of Bank Islami and the international payment scheme it was linked to was compromised.

Related: Hackers steal Rs2.6m via debit cards issued by Bank Islami

The bank had allowed all ATM transactions locally, but suspended international transactions till it could mitigate the risk of unauthorised access. Bank Islami now says it has put in place all the measures necessary and upgraded the system’s resilience to safeguard the bank and its customers.

In the wake of this incident, the central bank had also instructed all commercial banks to ensure security of all payment cards in the country and monitor the use of their cards, especially in case of international transactions on real time basis.


Tell us what you think:

Your email address will not be published.